The recent financial markets have been tumultuous, with many details worth dissecting and discussing.

**On the stock market side**, the Nasdaq has risen for three consecutive days, finally showing some fatigue this week. The S&P and Dow Jones have slightly increased, mainly to maintain face. In contrast, gold has performed remarkably, rising 1% recently and hitting a new all-time high, quietly accumulating strength. Silver, on the other hand, has fared worse, with a decline comparable to retail investors' self-discipline, dropping another 5% recently. Interestingly, the gold-silver ratio has broken a 12-year low, indicating that the price gap between gold and silver is rare in history.

**In politics and economics**, Trump's schedule this week has been a hot topic. He has been repeatedly mentioning Venezuela and Greenland, showing strong interest in both places. Many netizens jokingly say that this big guy might have played too much of the game "Civilization."

**Over at the Federal Reserve**, officials are subtly urging for rate cuts, but it also depends on Trump's stance. Meanwhile, non-farm payroll data is about to be released, and market participants are praying that the data won't be too bad, or else the recession talk will be hyped up again.

**The most critical thing in the crypto circle** is that two important bills are moving forward for voting—one involving the regulation and classification of digital assets. Once these bills pass, it will mark a significant step toward compliance, and the crypto industry might enter a new period of policy friendliness. This will support the long-term outlook for major cryptocurrencies like BTC and ETH.

Overall, the macro environment is changing, and so is the regulatory attitude. The key is to keep up with the pace.